United Covenant Foundation Inc

Analysis

United Covenant Foundation Inc is a registered charity in United States, based in Clear Lake, WI. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, United Covenant Foundation Inc reported income of $353k and spending of $479k, spending 135% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $517k to $353k (-32%), an average of -9.1% a year. The sharpest change came in the year to December 2021, when income dropped by 35%. Over the whole period it spent 118% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, United Covenant Foundation Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 64th percentile within WI. Charities of a similar size with the same main cause include Milo Housing Corporation ($353k), Metro Interfaith Services Incorporated ($353k) and All Georgia Developments ($353k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $3.7m against liabilities of $4.2m, net assets of -$512k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.